We’re not quite certain of the significance of this, but it sounds ominous.
The Terra Nova floating production, storage and offloading vessel remains Dockside at Bull Arm undergoing further maintenance as part of its asset life extension. It returned from Spain a month ago after being there for over a year.
Suncor, the largest shareholder and lead in the Terra Nova project, has not given any timelines for the resumption of production. However, Cenovus, which owns 38 per cent, has removed Terra Nova production volumes from its 2023 corporate guidance. The company did not provide any further information or rationale.
It’s not known if that means the rig will be out of production for months to come.
